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Internet of Things (IoT) Managed Services Market Worth 79.60 Billion USD by 2021

PUNE, India, February 16, 2017 /PRNewswire/ --

According to a new market research report "Internet of Things (IoT) Managed Services Market by Service Type (Infrastructure Management, Security Management, Network Management, Data Management, Device Management), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, market expected to grow from USD 21.85 Billion in 2016 to USD 79.60 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 29.5% during the period 2016-2021.

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Browse 36 market data Tables and 36 Figures spread through 112 Pages and in-depth TOC on "Internet of Things (IoT) Managed Services Market"

http://www.marketsandmarkets.com/Market-Reports/iot-managed-services-market-256294760.html
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The major drivers for the increase in demand for IoT Managed Services Market include rise of managed cloud services and growing inclination towards cost effective managed services. Managed Service Providers (MSPs) offer high effectiveness and performance for enterprises with their offerings, which also boosts the growth of the market.

Network management services segment is likely to hold the largest market share in the IoT Managed Services Market 

Network management deals with the entire network chain of an organization. It is essential to enhance the network for optimum utilization of the available resources. Network management services assist in analyzing the amount of data transferring over a network and automatically routes it, to avoid congestion that can result in crash of the network. Opting for a MSP can help organizations in reduced downtime, better network connectivity, safety, security, automatic device discovery, scalability, and seamless operation of the business process.

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Smart transportation segment is expected to grow at the highest CAGR during the forecast period 

Smart transportation is all about integrating advanced technologies with the existing transportation infrastructure, delivering real-time online information about the traffic flow, tracking of the assets, and passengers/commuters. IoT managed services help the transportation vendors to manage and monitor the complex IoT ecosystem. The increasing requirement for managing analytics, security, devices & sensors, data, and high volume networking, along with a rise in the overall operations and responsiveness drives the smart transportation vertical in the IoT Managed Services Market.

North America is expected to hold the largest market share in the IoT Managed Services Market 

As per the geographic analysis, North America is likely to benefit from factors such as rapid digitization across industry verticals. Increasing adoption of smart connected devices and technological advancements, followed by robust network infrastructure and presence of major IoT MSPs that offer specialized managed services.

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The major vendors covered in the IoT Managed Services Market for this study include Cisco Systems, Inc. (California, U.S.), Cognizant Technology Solutions Corporation (New Jersey, U.S.), HCL Technologies Limited (Uttar Pradesh, India), Harman International Industries, Inc. (Connecticut, U.S.), Infosys Limited (Karnataka, India), Virtusa Corporation (Massachusetts, U.S.), Tieto Corporation(Helsinki, Finland), Tata Consultancy Services Limited (Maharashtra, India), Tech Mahindra Limited (Maharashtra, India), and Wipro Limited (Karnataka, India).

Browse Related Reports: 

Managed Security Service Market by Services, Deployment Type (Hosted or Cloud, Hybrid Cloud, and On-Premises), Organization Size (SMES and Enterprises), Vertical, and Region - Global Forecast to 2021
http://www.marketsandmarkets.com/Market-Reports/managed-security-services-market-5918403.html

Cloud Managed Services Market by Managed Services (Business Service, Network Services, Security Services, Data Center Services, Mobility Services), by Deployment, by Organization Size, by Industry Application & by Region - Global Forecast to 2021
http://www.marketsandmarkets.com/Market-Reports/cloud-managed-service-market-195317068.html

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About MarketsandMarkets 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

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